SoftBank Group shares plunge over 9% as Asian tech stocks decline

The logo of Japanese company SoftBank Group is seen outside the company's headquarters in Tokyo on January 22, 2025

Kazuhiro Nogi | Afp | Getty Imagess of SoftBank Group plunged as much as 9.17% Wednesday, as nology stocks in Asia declined, tracking losses in U.S. peers overnight.The Japanese -focused investment firm saw s drop for a second consecutive session, ing its announcement of a $2 billion investment in Intel

Intel s rose 6.97% to close at $25.31 Tuesday stateside.Stock Chart IconStock chart iconSoftBank Group sOther Japanese stocks also declined, with semiconductor giant Advantest falling as much as 6.27%

Meanwhile, s in Renesas Electronics and Tokyo Electron were last seen trading 2.46% and 0.75% lower, respectively.nology companies in South Korea, Taiwan and Hong Kong, also fell after U.S. stocks dropped overnight spurred by declines in artificial intelligence darling Nvidia's s.U.S

CHIPS and Science Act seeks to boost the country's semiconductor industry, scientific re and innovation.s of Taiwanese chip company TSMC and manufacturer Hon Hai Precision Industry — known globally as Foxconn — declined 1.69% and 2.16%, respectively

Samsung Electronics, however, rose 0.75%.TSMC, Samsung and SK Hynix are among companies that have received funding under the CHIPS Act.Over in Hong Kong, the Hang Seng index lost 0.87% in early trade.The worst performing stocks on the index were Kuaishou nology which declined 4.8%, JD Health International which dropped 3.31% and Horizon Robotics which lost 2.29%.Losses were also seen in majors Alibaba Group and Xiaomi Corp down 1.44%, and 1.34% respectively.